The outlook for w/c 30 September 2019 - A full week of data, US Fed speeches and it’s also quarter end. Important US data out this week; non-farm payrolls and employment, ISM manufacturing and non-manufacturing PMI’s for Sep and the final Markit PMI’s for Sep. There...

The weekly macro review w/c 16 September 2019 - Policy easing by the US Federal Reserve followed the ECB easing measures announced last week. All three central banks this week indicated heightened concern for global growth and a weakening outlook. The US Federal...

The weekly macro review for w/c 9 September 2019 - The ECB eased this week due to the continued shortfall of inflation linked to the ‘more protracted weakness in the Euro area economy’. Easing measures included a further cut into negative territory for the deposit...

The weekly macro review for w/c 2 September 2019 - US data highlighted weaker manufacturing activity with ambiguity over services growth and household employment. Both the Markit and ISM PMI’s signaled stagnant manufacturing activity – despite some of the stronger...

The weekly macro review for w/c 26 August 2019 - US data was more positive regarding manufacturing growth. The Dallas Fed, Richmond Fed, and Chicago PMI regional manufacturing surveys recorded at least moderate growth and improved conditions in Aug (after the much...

The weekly macro review for w/c 19 August 2019 - Trade uncertainty, and escalation in tariff levies on US-China trade, slower growth, and central bank policy responses were the main themes this week. The most pressing development late last week was the announcement by...

The weekly macro review for w/c 12 August 2019 - Economic and sentiment data, as well as US-China trade tariffs, was the main focus of the week. The US softened its stance on the next 10% of tariffs on the remaining $300bn of US imports from China. Some tariffs will...

The weekly macro review for w/c 5 August 2019 - Tensions between the US and China escalated at the start of the week after the US announced plans to implement a further 10% tariff on imports from China. The USD/CNY moved above 7.00 for the first time in ten years –...

The weekly macro review for w/c 29 July 2019 - The US Fed and the BoJ made changes to policy and guidance citing downside risks from weak global growth and trade policy uncertainty. The US Fed cut the FFR by 25bps and has ended quantitative tightening. The BoJ added...

The weekly macro review for w/c 22 July 2019 - Data out this week confirmed lower US growth momentum. The Q2 advance GDP release showed that annual growth slowed to 2.1% (SAAR). Revisions to annual GDP growth had several impacts; the annual growth by quarter was...